Sen. Jon Tester (D-Mont.) and a bipartisan group of U.S. senators on Tuesday formally launched their legislative attack on the Federal Reserve’s plan to regulate debit-card transaction fees, a move cheered by banks and credit unions but slammed by retailers.
The bill, dubbed the Debit Interchange Fee Study Act, comes amid mounting concerns over the Fed’s proposed fee caps and calls for a two-year time out on the regulation. Get the full story »
